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6/28/2007
  $5 Billion for a Domain Name

What domain name is worth $5B? Apparently, "WSJ.com" is to Rupert Murdoch.

How does he respond to this bleak picture? By musing about investing even more in newspapers. "What if, at the Journal, we spent $100 million a year hiring all the best business journalists in the world? Say 200 of them. And spent some money on establishing the brand but went global — a great, great newspaper with big, iconic names, outstanding writers, reporters, experts. And then you make it free, online only. No printing plants, no paper, no trucks. How long would it take for the advertising to come? It would be successful, it would work and you'd make ... a little bit of money. Then again, the Journal and the Times make very little money now."

He's buying The Wall St. Journal brand, and planning to make it free on the internet.

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